tv Varney Company FOX Business January 25, 2013 9:20am-11:00am EST
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♪ we're moving up to the east side ♪ >> you know, moving on up. i think that's appropriate music. and there is money moving away from high tax states and moving to lower or no tax states. and travis wrote the book "how money walks", a pleasure to be here. stuart: we've got the fancy technology and the number one state where money is walking away. the number one state. right here in new york, we've seen a loss the last 15 years internal revenue service and u.s. census bureau combined. 58 billion out of the state.
stuart: there's new york and 58 billion out. >> going to the other places. stuart: is california second? >> that's right you've got nearly 32 billion dollars migrated out. adjusted growth income out of california to the other states. stuart: hold on, talking adjusted gross income. california 31 billion dollars worth of income, that means middle class, wealthier people, they're the ones who moved out taking that money with them. income out. >> that's right, we're looking at 1040 tax returns, taxpayer mobility and not just talking professional golfers or presidents of state. we're talking about working families and all sizes of businesses and going all over the country. stuart: is there any evidence that california is speeding up, pushing out money? i'm thinking of the mickelson story and the higher tax rates. is there evidence that maybe that is speeding up in california? >> well, what's fascinating here, people are doubling down. in the state of california this tax rate over the past 15 years,
the exits we're seeing is at 10.3 top percent tax bracket and now, recently, this have they' it. and states like arizona, like nevada and of course states like texas and florida that do not tax the personal income tax at all are winning and winning big in the past 15 years and stand to win even more in the future. stuart: i'll get to that in a second. i live in new jersey, okay? relatively wealthy high tax state. put your finger on new jersey. >> there you go. stuart: it's flown out. how much? >> and a loss of 18 1/2 billion dollars over the previous 15 years and a tax rate of just under 9%. stuart: and all of these red arrows are where the money is going, so new jersey people, literally people and income, they're going to california. they're going to florida, they're going to south carolina, going to north carolina, that's where they're going to. >> unfortunately for the state of new jersey what we're seeing here is that only two states out
of the entire country show a net positive. if this was a trade in the nfl only new york and michigan are giving positive trades to the state of new jersey. whereas if you look at a state like florida, the largest gainer of all 50 states, 86 billion dollars have flown from these red states, generally to florida and only in a few instances will people leave florida where there's a low tax position. stuart: bring it down to english. florida is the number one state where the money is coming in. all money comes into-- more money comes into florida than any other state. number two, got to be texas. >> texas is doing well just over 22 billion dollars. in fact, there are nine states that have a situation like texas and florida and those nine states are gaining a combined total 146 billion. the reverse the states with the highest personal income tax burden lost over 120 billion.
stuart: the reason i find it fascinating, oklahoma, louisiana, kansas and nebraska be, they have all got proposals on the table to eliminate or sharply cut their satate income taxes and they want to join the florida and texas states and they want the inflow and it's a very interesting local state tax debate that's going on across america. you wrote the book, didn't you? >> that's right, "how money walks" and how money walks.com. it's the perfect time for that to happen. stuart: that's the first time i've touched or looked at that technology up close. and here is a tax that could be coming to your state, a per mile tax, per mile driven. revenue from gas taxes down because cars are more fuel efficient. could they tax how many miles you drive to make it up? we'll have that for you. plus, we're on an all time high dow watch when the market opens in just a minute.
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name technology stocks, today especially and by the way, the action is probably going to be to the upside for the overall market in the very early going. the dow is 339 points away from its all time high. all time high, that is. 339 away. and futures are pointing to maybe a gain of 20, 30 points at that opening bell. and it's coming up very shortly. we will have our attention very much concentrated on apple, any bounce at all. microsoft, earnings yesterday disappointing, what happens there? all kinds of big name technology stocks which have been making the running for literally so many years, they're going to be front and center when that market opens up and it's now open and yes, the opening trend is a little bit higher. early going, and we're talking for a few seconds here and the dow is now at 13,831. remember, 339 from the all-time high. nicole, i've got to kick it off with microsoft. i own the stock of course, disappointing earnings yesterday, where does it open? >> it's down right now, down
almost 1/2 of 1% and disappointing earnings, they're obviously had windows 8 now and they've done their launch, but this stock is loser over 52 weeks and weak sales in business and entertainment division and one area of strength makes you better in the core windows business. stuart: something going on with rim. explain this, we put this thing on death watch. >> forget it, look at it now, up 1.8% tacked on the gains the last three months and we're heard that china's lenovo group is looking to expand and research in motion one of the many ideas. stuart: did you say rim, rim is up 130% in three months? is that right. >> yes, in exactly 13 weeks, yes, about 3 months, 130%. i think that was the day, we put it on death watch. stuart: can't say it, nicole. >> nice run. stuart: the dow is up 29 points in the first minute and a half.
13,855. look at apple. remember, they were down 12% yesterday and disappointing earnings report and samsung reporting a record profit today. so, where is apple? $450 a share, barely budging after a 12% drop yesterday. now, move on to look at boeing. u.s. safety regulators say they're nowhere near finishing the investigation into that battery fire on the dreamliner, and it's still grounded, but boeing is holding. and i'm not going to call it a door stopper stock, it's holding at 75. back to nicole, tell me what's going on with starbucks. >> i was trying to see how much i paid for these things now, too. okay, here is the point. the point is, starbucks people, in america, in asia, the higher traffic, higher sales, offset any costs that starbucks faces and they come out with profits, and it's up 4 1/2% and looking to see how much i'm paying, 2.50. and this drink was like 5 1/2 bucks. stuart: okay.
>> and just, this is what i'm saying, they're so expensive, for people go, people go. stuart: it's so expensive, but you keep on going, don't you. >> yeah, i like the chocolate, i like the caffeine, helps me get through the morning and be on fox business network and nail it every time, now, what can i tell you. stuart: just keep the caffeine flowing on that, that's the way it goes. the dow is up 31 points at 13,856. that means we're 300 points from the all-time high. senator john kerry testified at his confirmation hearings for secretary of state yesterday and in his opening comments he warned that america will lose influence and power abroad if we cannot solve our debt problem at home. listen to this. >> more than ever foreign policy is economic policy. i am especially cognizant of the fact that we can't be strong in the world unless we're strong at home. stuart: he's right. this as the national debt continues to soar way above 16 trillion dollars. in fact on track to hit 17
trillion dollars total debt by the fall of this year. that's months away. and just when you thought you were working the system and buying fuel efficient cars to avoid higher gas taxes, think again. lawmakers in two states, oregon and virginia, they want to implement a per mile tax for fuel efficient cars, for everybody, actually. making drivers pay more for driving more. and in california, the toyota prius, a hybrid was the best selling car last year. could a per mile tax be on the table for the formerly golden state and elsewhere? joining us now is lauren, and let's bring everybody up to speed here. if you have a per mile tax, you're taxing driving, as opposed to taxing gas consumption. so, as taxes from gas sales go down because of fuel efficient cars, tax revenues need to go up and we do that by taxing per mile. i know this is a serious
proposal do you think we're gog see it nationally? >> i hope not. that's a lot of reasons people bought eb cars and hybrid cars, bypass the gas tax, don't have to go to station often and plug it in, and some offer free plug-in cars and nothing is free not even love, but they're going to tax by the mile. stuart: do you what you're supposed to do. you're a good person and buying fuel efficient vehicles and buying electrics and hybrids and saving money on the gas tax, but they get you coming and going. you can't win, can you? >> no. actually what happens is, it makes common sense. you go to the pump you fill up and, for example, virginia, they're charging 17 1/2 cents in sales tax on top, and on top of the gasoline use it it for roads, repairs and bridges. so, what happens if you've got more fuel efficient cars up 6% for 2012, that means--
and with the cafe standard being 54.5, less tax money coming in, and you have two choices either tax by the mile or increase your sales taxes and use that money supposing that they really do, to repair a bridges and roads and a lot of people say, i don't own a car, i live in new york or washington well, you use public transportation and want safe roads and if that's the case then that money has to still come from someplace and it's going to come from you the driver. if they don't get you one way they may get you both ways, may get new gas and charge everyone for the mile. stuart: you might think that the per mile charges replaces the gas tax, but not so. you'll end up paying both. and right now, is only that you pay per mile on efficient cars like the prius, and everybody else-- >> that's ow oregon first brought it up. what's going to happen if they
want to tax everyone by the pile, they have to have a gps or monitor or go by the honor system that you're actually going to say, yeah, i drove a couple hundred miles this year. they're going to audit that as well. you have to decide where the line in the sand is. if they monitor this or start putting in some sort of monitor in all the vehicles like they've talked about doing, that means they know a lot about you and your driving and they can start taxing you for other things as well. stuart: give me your opinion, in my opinion is that sooner or later they will be tracking you with some kind of device that says how many miles you've driven. do you think it's going to happen? >> yeah, i think so the black boxes are up, and up the black box law and 2014. if you don't like it, tell your elected officials not to vote for it to fight this, if not, every single car that's being produced today with exception to the german cars will have black boxes on them and they will get to know anything they want to know. right now they collect 17 points of information, think, maybe
you'll start getting a ticket in the mail, you drove too fast we don't need the police officers there, stuart, you were driving too fast to work, i'll mail you the ticket. stuart: i can see it coming a mile off, lauren, i really can. i didn't know you were a libertarian. are you? >> who, me? no, i tend to be more on the conservative side especially when it comes to business. stuart: i'm with you all the way. lauren, what a pleasure, thanks for joining us, come again soon, okay? >> thank you, thanks for having me. stuart: check out this live shot of tahrir square. celebrating the revolution, no violence reported, a very big crowd. this from the formerly golden state, that would be california. jerry brown called california a quote, model for the nation. do you think that he watches "varney & company" after hearing him say things like this. >> i guess those who take pleasure seeing of our demise, california did the impossible.
you, the legislature didn't. stuart: talking about us taking pleasure? all of this puts governor brown squarely on fantasy island. we'll have proof that his state's budget is far from balanced at the top of the hour. time is money. here are three more headlines that we're considering and weighing in on today. the move by states to get rid of income taxes, i'll tell you how phil mickelson plays into all this. that will be my take. senator dianne feinstein opening up the anti-gun presser with a pro gun control prayer. is that okay with you? is that the right thing to do? we'll talk to the head of the catholic league and a union membership, almost a 100 year low. is that good for working people? good question, we're covering it. plus, a special guest, wait for it. joining me next. sharon osborne, a brit making money in america, how does she feel about foreigners coming over here and criticizing america? i will ask her.
we want to hear from you as well, please. email@example.com, that's how you reach us. friday morning, it's time for your seven early movers and they are moving. disappointing results and down beat guidance from the mattress seller, select comfort, they are down five bucks, now that's movement the better than expected forecast from screen maker, and they are, well, right now they're up big, 6 bucks higher. look at that. profit down, but still better than expected at the mattress maker, tempur-pedic, i don't know, can't show you, yeah, they're up three bucks, almost 9%, medical test maker, and i don't know how you pronounce it, se pch seped. and e-trade financial down, but barely. disappointing forecast from electronics maker flextronics,
and better than expected for software company, and they are up, nearly 4, that's 11%. these stocks really are moving. next, emmitt smith. he's here and he's going to try to sell me that car. that car. he's got 30 seconds to make his pitch. now you can expect the unexpected when a football star comes on "varney & company." stuart: and by the way, you set that record when you sacked brett favre, as i recall, but in my personal opinion brett took a tumble for you, didn't he. [laughter] >> who's ever feeding you these notes, i'm going to beat them up after i beat you up. how about that? . [laughter] (announcer) scottrade knows our clients trade and invest their own way. with scottrade's smart text, i can quickly understand my charts, and spend more time trading.
their quick trade bar lets my account follow me online so i can react in real-time. plus, my local scottrade office is there to help. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade. voted "best investment services company." omnipotent of opportunity. you know how to mix business... with business. and you...rent from national. because only national lets you choose any car in the aisle. and go. you can even take a full-size or above. and still pay the mid-size price. i could get used to this. [ male announcer ] yes, you could business pro. yes, you could. go national. go like a pro.
here and the rally closer, we're near an all time high. and quickly the price of oil going up again, 96 bucks a barrel and watch out gas prices and average price up slightly the past week, 3.33 is what you're paying nationally right now. okay, let's get to it. special guest today, hall of fame nfl running back, i believe he's called, emmitt smith. he is here. first of all, you are working with lincoln, right. >> yes he. stuart: you're advertising that car in the super bowl. >> yes, we are. stuart: i'm told you're the all-time rushing champion, leading rusher, the guy you grab the ball and run like the devil to the far end. >> they give me the ball and i run like the devil. i create a pocket for them to place it in. stuart: and the quarterback sticks it in your pocket and you go. >> and then i go. stuart: you're the july time leading rusher. >> you know what that means. stuart: you take the ball. >> it means i rushed for more
yards than anybody in the history of the game. stuart: that's fantastic. >> it's not like a soccer term. stuart: we'll get to that in a minute. and played a full game with a separated shoulder. >> two and a half quarters with a separated shoulder right here in new york. stuart: is that agony? >> it was painful. stuart: painful. >> painful. let's get to the main event. you're advertising and pushing the lincoln nkz. and put that on camera, we've got one outside. >> yes, sir. stuart: emmitt smith you're brilliant at football and see if you can sell. 30 seconds starting, to sell me that car, starting now. >> as you can see, this is one beautiful, fine, automobile. has a unique, sunroof in it, and there's a uniqueness about this sunroof, it goes all the way back to the back seat so the people, passengers in the back seat can look out the roof as well. push button park, start, drive. reverse, parallel parking itself. it's great inside. a nice, sleek inside look, it
rides great. comes in the hybrid fashion and a super automobile, very nice. stuart: you took 25 seconds. but you omitted something. >> i' mitted that this car will be down at the super bowl next week and only gave me 25 seconds. [laughter] >> this is a financial program. my name is stuart varney and-- >> see the price tag, under 40,000. stuart: under 40 grand. that's a fine car and i know the car, besides your selling points and i really do like that, from ford lincoln, correct. >> yes, sir. stuart: now, another bone to pick with you. >> okay. stuart: in my belief, american football, i'll call it that, is not a good spectator sport, it's no fun going to the game. unlike soccer, where going to the game is a genuine experience. go. >> well, i big to differ. and that's why so many people are going to be watching the big game next week, because everybody loves american
football, including, foreigners. stuart: foreigners, foreigners? oh, wait a second. it's no fun going to the game. i've been to games and you have to wait for the commercials and-- >> a jets game is not like a dallas cowboy game, if you've he been to kansas city game not like a dallas cowboys game. if you've been to any game, it's not like going to the super bowl. stuart: who did you play for. >> dallas cowboys. stuart: america's team. >> you know it. stuart: now, if you ever went to an english premier league soccer game you saw man u, you saw chelsea, and spurs. >> yeah. stuart: and now, that is a fan experience. 50,000 drunks. >> and cowboy stadium holds 119. stuart: oh, okay. stuart: and glasgow home of the glasgow raiders, 120,000. >> and cardinals, seats 75, 80,000, we have college stadiums that does that. stuart: you don't get it, do
you? you don't get it. the experience after soccer game-- >> an experience of being at the national champion when my gators are playing against ohio state, amazing. stuart: so you think that college soccer is better than the nfl. >> no, i think that college football is nice for everybody to watch. nfl football is very special. stuart: i'll give you that one. 49ers and ravens, who is going to win. >> in this particular game i think the 49ers have a better ball club in terms of youth, but the ravens themselves, business partners live in baltimore and i would like to see baltimore get another champion ring. stuart: did you enjoy being on "varney & company"? >> well. stuart: what? >> you're supposed to ecstatic enthusiastic. >> well, i'm excited for the new lincoln car, and putting it on the map. stuart: when i watch the super bowl next week, you're going to see. >> see me riding around in the
mkz next week, that beautiful car there. stuart: you're a star and you're a gentleman and we appreciate you being with us. >> thank you for having me. stuart: time for the gold report. 9:50 eastern. and here is unlikely friendship. facebook's mark zuckerburg, and new jersey's chris christie? why are they teaming up? charles and liz want to ask that question. they want to hurry into the studio to meet emmitt smith. not me, no, emmitt smith. ladies and gentlemen, back in a moment. ♪
>> hey, get in, mark zuckerburg, hosting a fundraiser for governor chris christie of new jersey. remember, the pair did team in new jersey. the team teamed up with cory booker to tackle education reform in newark's public schools, mark zuckerberg is opening his palo alto hotel to chris christie's reelection campaign. why is mark zuckerberg doing this? liz: he is tough on education,
donated $100 million to newark's schools and is getting blasted on the internets despite the fact he posted a town hall for the president and attended a dinner for the president in silicon valley. stuart: he is a liberal, chris christie not so sure. charles: chris christie is a new age bloomberg hybrid, he has crushed these republicans. if he was nice to president obama and moved the election he is something of a hybrid have republican half democrat, maybe that is what we want. stuart: jerry brown says everything is rosy, but it is balanced, it is a model for the nation. next, why that is back on street. he is on fantasy island. ou turn? maybe you want to incorporate a business. orrotect your family with a will or living trust. and you'd like the help of an attorney. at legalzoom a legal plan attorney is available
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not a mention of state worker pensions, middle-class flight, massive debt and no mention of tax review g. phil mickelson. it is still the formerly golden state. straight to the new york stock exchange, the dow is closing in on an all-time high. a few seconds from now we get the latest reading on another bright spot in the economy, new home sales coming, the dow is up 40 points, 14865. it is there for almost precisely 300 points away from its record all time closing high. we are on all time high watch on "varney and company" not this friday morning that may be in the very near future. it is friday. here's our friday company. liz macdonald, charles payne, on
for -- where is your tie? nicole petallides on the floor of the stock exchange. i have got to go straight to you. what do we have here? i want to talk housing. what have we got? housing numbers in. up, down 7.3% month to month, down 7.3%. up until now housing has been very much a bright spot in this economy but that is new home sales, new homes down 7% month to month on a selling basis. that is what we have got. we have got news on netflix. show me netflix. it is way up again. nicole: take a look at netflix. they have added contents, gave a great outlook. stock is up 8-1/4%, new high again, new 52 week high, you
remember when we, last july of 2011 when we were talking about a $300 stock. stuart: in two or three days is up 50%. nicole: gaining big time. this is $50 last summer. the most volatile stock ever. liz: increasingly viewer that ditching hbo and showtime and buying netflix. they get better offers on netflix. stuart: watch out. thanks very much. moving on. okay. okay. got to give you a little mom on new home sales. month to month new home sales down 7% but over the course of the year they did post a gain in the number of new homes sold in the united states. is not all negative on the new home sales figures. new home sales were up 19% in
the year 2012. not all negative. month-to-month not great but the year as a whole, pretty good. i talked all about california at the top of the hour. here is governor jerry brown from his state of the state address. listen please. >> the message this year is clear. california is one again confound on critics. in two years we have brought a solid enduring budget. my god, we're going to preserve and keep it that way for years to come. stuart: i put the governor back on fantasy island after that address. was i right? charles: 1,000%. is mind-boggling. the speech he gave is i am great, we are okay. he is misleading people, misleading constituents and california is sinking by the minute like the captain of the titanic saying the next round is on me, keep the band playing. liz: an ocean of that coming,
$81 billion and counting. you don't hear that in the address. stuart: an ocean of that coming do, $181 billion. that is not all coming do. that is over a long period. liz: for junk status for that reason. stuart: i have to bring in the voice of reason, a man with real numbers from california, mark stanford with front-line state filed. with a proper name? front line was? >> front line strategies. stuart: all right. we put the governor back on fantasy island. i want you to tell us am i right in doing that? is california out of the woods? is it in the black? is a model for the nation? >> no. governor jerry brown is not guilty of kicking the can down the road. he is trying to hide the can entirely. budget that is balanced on $7 billion of debt payment deferral funding shifts and
other gimmicks, spending rising $12 billion this year, $25 billion over the next three years and elizabeth was talking about the unfunded pension liabilities, $181 billion is at the low end of the estimates, over half a trillion dollars. we have seized going bankrupt, we lost some one trillion dollars in the economy due to the housing bubble and 4.4 million taxpayers leave california since the year 1998 not including tiger woods and phil mickelson. stuart: he says he is back in the black, they balanced the budget and you are saying that has only been done with $7 billion worth of gimmicks, correct? >> yes. there is also spending revenue projections that are speculative at best. they think the governor's new tax hike is going to generate anywhere from $8 billion to $12 billion in new money but as we are finding that you get the obamacare taxes kicking and and the effect of his tax hike still yet to be seen and i think we
will end up at the end of the day with a lot of promises. stuart: two more items i want to cover. the bullet train, the governor yesterday in the state of the state message pressing ahead with it. they broke ground on it. that means what? $68 billion minimum in the relatively near future on this thing. >> yes. the interesting thing is you mentioned global the trade going san francisco to los angeles. it is not close to being there because of the environmentalists is a not in our backyard. it is going to go between fresno and bakersfield, not necessarily the garden spot of a say. i love folks in fresno and bakersfield but to try to start your bullet train project there is a high-speed fail, not high speed rail. stuart: what was that about huge water tunnels, 30 miles long? i didn't get a dollar cost but i am sure it is tens of billions. >> we had issues about getting
water from the sierras in california to san francisco. number of reservoirs that are trying to preserve so his deal is to build these underground water delta tunnels that go from northern california all the way to the bay area. we are talking about a minimum of tens of billions of dollars of construction costs and no one knows where the revenue is coming from. stuart: hard numbers, thank you very much, see you again soon. thank you. dianne feinstein unveiled her gun control legislation yesterday and opened her news conference with a prayer from the dean of the national cathedral, reverend paul. listen to it please. >> everyone in the city live in terror of the gun lobby, but i believe the gun lobby is no match for the cross lobby, especially when we stand together as people of all faiths across the religious landscape of america. stuart: looked to me like that prayer was basically a push for
god to make gun advocates why is up. it was very much in favor of gun control and it was a prayer. our next guest says this is religious exploitation. here we are with bill donohue, president of the catholic league. welcome to the program. let's spell it out. the cleric there made a prayer which was involved with a political message pro-gun control. is that right thing for a cleric to do? >> absolutely not. when i first heard about this i was commanding dianne feinstein when they called me about this. i said we should welcome that. i called back after a check into this and found out this guy exploited the issue. now we have got is on the side of -- god is not on the side for against the yen are a and i would condemn the nra if they had someone up there as well. to make a political speech like this, if you brought in a clear demand or woman and that persons that we asked god for wisdom so that we make the right decision
about this, i am all in favor of that. i had no idea i was giving dianne feinstein the benefit of the doubt. this is the same party the through got out of the platform a few months ago at the democratic national convention and had to find him again. stuart: i un equal opportunity critic? do that i mean the following. the idaho state gop convention, a cleric said this prayer, dear lord, i asked on thursday, election day, find a new job for president barack obama. >> that is wrong. that is not roll the clergyperson to say something of that nature. i condemn that as well. if we have gotten to the point the can't even have a neutral non-partisan prayer on the part of a clergyperson, we have cleared the people against each other, people in different religions or within the same religion, i wouldn't care if it was a catholic priest. stuart: you are not in the
priesthood. you are -- you run -- i am sorry to put it like that, the catholic league. is okay for you to say barack obama should have sworn in for his second term -- [talking over each other] >> i said that because lawrence o'donnell who -- professed socialist that msn b.c. was railing against christianity and talking about how no one should use the bible whatsoever. i made a snarky, and if you feel that way why don't you have swearing in das capital, more in tune with his thinking. liz: i am scared to quote bible scriptures with you. will be terrifying but didn't jesus say matthew:26 those who live by the florida die by the sword? their role for that thinking? >> absolutely no question about it. when you invite a clergyperson to a public ceremony of this nature you expect to ask for dependence on the creator, the
lord, divine providence, that is the language you want. what he used that term, the terror of the gun lobby, all of a sudden they have gone on one side of this issue? a very complicated issue as we all know, deals with mental health issues, deals with videogames, pornography which desensitizes men and the like and all of a sudden you religiously exploit a public policy issue for political capital? no. both sides would be wrong. stuart: i want to express an opinion on dianne feinstein's bill, very poor piece of legislation. will not do anything to solve the problem of mass murder in our schools. won't touch it whatsoever. it doesn't go anywhere near the problem of having mentally ill people with guns, doesn't address the problem all. it wants to suppress a whole area of gun ownership which i think is not right in my opinion. >> dianne feinstein has every right to get a concealed weapon permit became a senator. doesn't that raise the question
how come it always is the rosie o'donnells and dianne feinsteins to always make an exception that they should have guns or their bodyguard to have done the the rest of us should not have guns? our friend joe biden came out the other day and said you want to protect yourself self-defense get a shotgun. she has shotguns on her list. this goes way beyond what they have with the assault weapons ban in 1994. stuart: you never lose your energy, do you? you could be 85 years old. >> i was raised an advocate, how did -- stuart: charles payne -- [talking over each other] >> happens to me all the time. stuart: thank you very much indeed. here's what you're saying about that gun control prayer? john wrote there are those also praying otherwise.
what is god to do? probably back away and let us decide. mike said they are the first to cry separation of church and state. from row, separation of church and state, can't have it both ways. if you want the government out of the church, church stay out of government. i am against gun laws just for the record. thank you, everybody. appreciate your input on facebook. union membership at its lowest level since 1916. who are the political and economic winners and losers in all of this? the answer is next. ♪
stuart: we are on full time record high watch for the dow today. look where it is now, 13862 up another 37. starbucks got a lot of company here and in asia. nicole petallides, the coffee giant reported stronger than expected sales and matched wall street expectations. shares on a rise 4%. bad news, let's go to has row. less demand for toys than expected here and around the world, it is down 4%. tokyo scary in cairo, egypt filled with protesters marking the second anniversary of the egyptian revolution that forced hosni mubarak out of power. president more see urging egyptian to mark the anniversary in a peaceful way. union membership down. the next guest will talk politics and how the union will
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a live picture there. let's check in on bright orion's family solutions. it debuteded today, first-time shares of denzel to the public and they are on saline what happened to stock? nicole: stock is great up 28%. bring that in, our producer at the exchange, highs at 2850. this is the ipo price, originally 19-21, priced at 22, soaring. this is all about child care, family services, the guy that barkley told me they actually don't have care for their child five days rear they bring them over here. this is the company's board established in the medians before liz was born. [talking over each other] >> good for your grandchildren. stuart: a day care company? >> it is for child services and
such and as i go to vegas i can take this. we left out important part. 80% stake from being capital and you have the ceo on as well and do a great interview. stuart: the ceo is on this program later today from bright or rise in. thank you very much indeed. now to union membership, weighed down. take a look at all of this. 400,000 workers left the nation's labor union movement last year. the state of wisconsin down 13% in its municipal workers, down 45,000 and indiana where a law passed last year that allows workers to benefit from a collective bargaining agreement without paying a union feet, 18% drop in membership there. these are the lowest union levels since 1916. joining us, brent mcman. welcome to the program. obvious question. unions are flying high politically at the moment.
they have enormous political influence. does this decline in membership affect their political clout? >> in a lot of respect to the fact that in kind of a converse way. if you look at the budgets being danced around talked-about by senate democrats and the president, a lot of it will end up having higher taxes and significant spending at the government level which means government employee unions will be able to get high salaries or hire more people, more union dues, electing more democrats. stuart: we have union membership declining sharply. will that lead to a decline in their political clout? >> it could if drastic steps like this administration has already been willing to do aren't undertaken like proposals from the nlrb to make it easier for people in private sector
being forcibly unionized, all kinds of things like bailout they have talked about. stuart: declining union membership means declining union dues so unions have a lot less money to spend on leftist causes. >> that is certainly true end of a self but also sets up a situation where the desperate folks meaning the democratic party in particular are going to be willing to do extraordinary things to bulk up that membership. that is my concern because it creates that scenario and creates the need. stuart: a short time left. make a decision for me. is the decline in union membership bad for american working people? >> not at all. it is very good for them because not only is the cost of living going to decrease by lower menu should -- marriage of their ability to actually get ahead on their own merits is higher with less unions around. very good for the working man.
stuart: my belief, american football is not a good spectator sport. it is no fun going to the game. unlike soccer where going to the game is a genuine experience. >> i beg to differ. that is why so many people are going to be watching this big game. everybody loves american football including foreigners. stuart: i think you will admit i took a risk with football legend and its smith in the last hour. you never know what is going to happen on "varney and company". that is why you have to tune in shock at 9:20 eastern weekday mornings. timeframe market check. where are we now? of 20 points still on the upside, 13846. no secret i have problems with piers morgan, a foreigner coming here and going on television and spewing negativity about america. i don't like it. in a few minutes sharon osborn joins us, she makes money. what does she think about peers morgan, a former co-worker?
we will lascar at 10:35 this morning on this program. it has been a week. what a golfer had to say about where he lives is rippling through the financial world. here's another my take on phil mickelson. a story in the new york times caught my attention about republican governors moving away from taxing income and moving towards taxing consumption from income-tax is to sales taxes. related story. governor brownback of kansas wants to eliminate his state's income tax, he joins the governors of four this state which are considering the same thing. where does phil mickelson coming to this? in two ways. he wants to move out of california. he is free to live wherever he wants and preferred lower taxes. why not? that is why states like kansas, florida, texas are competing for tax refugees. the phil mickelsons of this world are driving the tax debate. phil mickelson objects to a 63%
tax rate. who wouldn't? when this tax become legalized theft? this is a moral question as well as financial. here you have a sports guy driving a moral and financial tax debate. is not going away either. the president wants to raise taxes even more and we will soon see the impact of that disaster known as obamacare. bring on the debate. do you think 63% is a fair share for the government? do you think any american should be cowed into living where the government can tax them most? i know where i stand on this one. [ indistinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ]
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stuart: the dow is on the upside, 22 points, still up, within 300 points, close to its all-time high. no eve dating of the question. just because you have a tie on doesn't mean you can debate the question, when does the dow crossed 13,000? before the day after it happened. sometimes this year. that is a huge number. play around with it and pull back and all that stuff but it will happen sometime this year and when it does watch out because people are flocking into the market like crazy. stuart: when you think this market is going. liz: he didn't want to answer that.
stuart: but he did. answered. liz: i agree with charles. eyewall street forecasters were invented to make whether men look good. we don't know what will happen. i think it will happen. stuart: i would agree with that. nicole petallides, microsoft, tell me it is up. nicole: it is up. the dow a little bit back in the green up nearly 1%, a gain of one quarter, $0.25 to the upside. interesting because i heard one of the people on tv talking about the fact they would rather buy microsoft at these levels and apple because microsoft has potential to the upside and they are doing well with windows etc.. stuart: opened lower and moving a bit higher. and stockowners will take that. listen to this. surprise surprise. karen osborn is with us. we're talking about bricks in america and we are talking diets. welcome to the program.
good to see you. >> how are you? stuart: there may be a little bit of a delay on this. first of all, you are a brit, you live in america, you like it? >> yes. i loved it. i have lived here -- go on. i have lived here longer than i lived in england because i moved here in the 70s. i have lived here longer than anywhere else. stuart: what do you think of brits to come over here and are critical of america? talk down to americans with a british accent like your friend peers morgan? what do you think about that? >> it is hard for me to talk about him because i love him. he is a friend. but i get pretty angry with a load of bricks that come over here and talk to everyone. they keep coming back here. if it is so bad why do you keep
coming back? stuart: i will get to the diet in one shining moment but another question. you make a ton of money. you make a ton of money. are you happy giving more than half of your income to the government? >> absolutely. that is the world we live in. not just this government but around the world. you give 70% away in france. i am more than happy. stuart: singapore 20%. russia 15%. hong kong -- >> who wants to live in singapore? stuart: singapore is a beautiful place. hong kong fabulous. stuart: it is humid. i think we have a disagreement. i think it is wrong for any government anywhere to take more than one third of a man or woman's income. you have the last word on this
and i will get to the diet. >> what are we going to do? it is the world we live in and if you want to live in the best country in the world you pay a price and that is the price we pay and i am willing to pay it. stuart: that was excellent. that was a good rejoinder as one might say. you have lost 23 pounds in six weeks. tell me how you did that. >> i did it on the atkins diet. i have tried every other diet in the world and they work but you put the weight back on again. with this, you keep the weight, you maintain your weight and my husband did it, my son did it with me, my assistant, we joined forces and did it and for me it works because i don't cook, can't boil an egg so you get this fruit from the supermarket already made up, frozen food and
it is a no-brainer. stuart: are you making money by advertising the atkins diet? >> of course i am. this is america but the thing is it works. i wouldn't put my name to something that didn't work. it worked. i am living proof. therefore i should get paid because i am doing and i have a big mouth and i will tell everyone that it works. i will stay around in this industry so i am not going to put my name to something that doesn't work. stuart: we appreciate you coming on board, we really do. sorry if i went off on a tangent about brits and taxes and the rest of it but it is good to see -- >> i did it. stuart: you look fantastic. that is a legitimate thing for a man to say. >> i appreciate it and if you want to go on a diet you should
go to atkins.com and they will give you a free starter kit. stuart: i just gave you another thirty-second commercial which was good of me. garrett osborn. thank you, great stuff. next, the gun-control debate with a woman with a very personal story to tell. despite a family tragedy she is against gun control and she is next. to grow, we have to boost our social media visibility.
more "likes." more tweets. so, beginning today, my son brock and his whole team will be our new senior social media strategists. any questions? since we make radiator valves wouldn't it be better if we just let fedex help us to expand to new markets? hmm gotta admit that's better than a few "likes." i don't have the door code. who's that? he won a contest online to be ceo for the day. how am i supposed to run a business here without an office?! [ male announcer ] fast, reliable deliveries worldwide. fedex.
stuart: investigation into the boeing 787 dreamliner continues. america's a deregulators are not close to finishing the investigation. the f a a grounded the fleet after a string of incidents surrounding the plane. they won't fly into the problem is all. shares are $74. be prepared to pay more for using your credit card this weekend. starting sunday, 40 states have a slight fee of 4% for using your credit card. you can avoid the charges by paying with cash or debit or shopping somewhere else. numbers out this morning on new home sales up nearly 20% in calendar year 2012 over 2011. we are on all-time record high watch today. we are up 18, 13843. next, an opinion on guns. (announcer) at scottrade, our clients trade and invest exactly how they want. with scottrade's online banking, i get one view of my bank and brokerage accounts
stuart: it reporter and frequent guest of "varney and company" ran into actor david arquette earlier this week and got into a discussion about guns in movies. here's what david had to say. >> if you want to restrict the amount of bullets that it in a magazine and restrict that also from being able to show that amount of bullets in a clip on a movie screen i am totally down with it. go for it. stuart: please note there was no mention of hollywood in president obama's gun-control
proposals. more than 20 years ago, susanna have witnessed the murder of her parents at the hands of a gunman who opened fire in a lover's cafeteria in texas, 23 people were killed that day. suzanne is a legal gun owner and had a handgun in a car that evening but because of the gun laws she was not permitted to bring that down into the restaurant that night. former member of the texas house of representatives and author of from lovers legislature susanna hoff joins us from austin, texas. welcome to the program. we thank you for sharing your story with us. it is a tragic story but thank you for being here. you are i take it opposed to gun control. layout your case please. >> i am supposed to put it in a nutshell. the only thing the gun law gave that particular day was my parents, to prevent me and a number of other people in the restaurant from protecting ourselves. i was very angry. i was angry at the legislature
because i felt they had legislated me out of the rider protect myself and my family. that isn't something i made up a year later. that was something i said the next day. there were several of us that had guns in the cars that were not able to use them. stuart: a lot of people understand the logic of what you are saying but the other side of the killeen is a lot of people will say we really don'tcoin isl say we really don't want a bunch of people walking around with a cold.45. can you see that side of the argument? no. >> i heard those arguments which i testified in 26, 28 states, i testified at the congressional level. i hear the same arguments everywhere i go and none of those scenarios they talk about, those dog city scenarios ever play out. if guns are of a problem why don't we see these terrible things they're talking about
happen at the nra conventions or the dreaded gun shows, places where there are thousands of guns in the hands of just as many law-abiding citizens? stuart: do you think we should do anything? we post newtown conn. an awful situation obviously. do you think we should do anything? >> absolutely. stuart: what should we do? >> in texas and in a number of other places we are looking at opening it up because i believe any time you create a so-called gun free zone it is pretty clear that that is where these crazies go to rack up high body bag counts. these things don't happen where guns are allowed. they go where guns are not allowed. there are a number of schools across the country and in my home state that are beginning to say maybe it is a good idea to
let our teachers who have concealed permit and can protect themselves at the local cafe let them protect themselves in the schools as well. stuart: your logic is right there and i am calling it down the line but the emotional side of me says hold on a second. i have six kids. do i really want -- are we really okay the teacher packing a pistol? >> they already are. they are just not doing it in schools because it is typically not allowed. i have been there. i know what it is like to be in their room with a crazy man that is just there to execute people and i know what it feels like to wait for it to be your turn, when you have no way of defending yourself. i can't tell you how frustrating that is an the idea of being back in that same situation but instead of being with my parents having my kids with me, at that
point, even if i have chosen not to have a gun i hope the guy behind me has one and knows how to use it. it makes me physically ill to think of being there with my kids. stuart: i am absolutely with you. take me back to that night in texas. if you have your gun with you, no problem whatsoever plugging this guy and stopping him? >> it was actually in the middle of the day in a crowded restaurant and back in those days these crazy shootings weren't happening so it wasn't something that you think about. you think about i need to carry my gun in a dark alley somewhere. an assistant district attorney in houston convinced me to carry a gun and at that time was illegal and a couple months prior to this event i had been leaving it in my car because i didn't want to lose my license to practice chiropractics. wanted to be legal law-abiding citizen. i am trying to get across to you
the idea of that feeling of the senselessness and how the bad guys look for places where they can rack of those body bag counts. a gun is not a guarantee. you said i have taken him out? i could have met him. it is possible my gun could have jammed. one thing no one can argue with is it would have changed the odds. no one can argue that. stuart: you did get your point across. you did make me understand and i appreciate that. thank you for sharing that story with us. we appreciate it. >> thank you for having me. stuart: the ap is reporting a federal appeals court just ruled president obama's recess appointments to the national labor relations board are unconstitutional. how about that? take that, richard trumka. remember how much bain capital was in the news leading up to the election? one of the private equity firms went public today, we talked to
the ceo of that company next. this is $100,000. we asked total strangers to watch it for us. thank you so much. i appreciate it. i'll be right back. they didn't take a dime. how much in fees does your bank take to watch your money? if your bank takes more money than a stranger, you need an ally. ally bank. your money needs an ally.
he joins us from the new york stock exchange. you are a dane company, are you not? tell us what did danes do for you? >> we couldn't be more thrilled to be here. we have been thrilled to work with been over the last five years. they may not know what they were the company to put the initial seed money more than 26 years ago, to be able to actually have a chance once again to work with their expertise and the kind of people they have that essentially support our mission and support our growth, this whole process was not about any kind of cost, more about how can we invest in growth. the track record speaks for itself. we grew on the top line and bottom line in every single year in the past five years. the ten toughest years the company ever had to weather given the economic downturn. stuart: they put the money in,
way back when, in the earlier days, brought in their expertise, guidance counselors to some degree, and you are on your own and going public, been makes a lot of money. they make a lot of money on the initial investment that you are launch and a job creator. will you tell us exactly what bright horizons actually does? >> the company was founded on the premise that employers had a stake in those issues that cause the most friction between work and life and force people to be less productive and they don't have the right solutions so the company pioneered a model of child care, 26 years ago that has grown and flourished now in almost 800 locations across six countries where we have employers, blue-chip employer sponsors who co investors create a high level of quality and accessibility for their employees. stuart: many thanks for joining us today and congratulations.
at this moment your stock is up 27% from the operating price of 28%. thank you so much. please to be with you today. a special highlight reel is next and i am told the joke is on me. w when, but thieves can steal your identity and turn your life upside down. >> hi. >> hi. you know, i can save you 15% today if you open up a charge card account with us. >> you just read my mind. >> announcer: just one little piece of information and they can open bogus accounts, stealing your credit, your money and ruining your reputation. that's why you need lifelock to relentlessly protect what matters most... [beeping...] helping stop crooks before your identity is attacked. and now you can have the most comprehensive identity theft protection available today... lifelock ultimate. so for protection you just can't get anywhere else, get lifelock ultimate. >> i didn't know how serious identity theft was until i lost my credit and eventually i lost my home.
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lifelock protection risk free for a full 60 days. use promo code: gethelp. plus get this document shredder free-- but only if you act right now. call the number on your screen now! the two all right. let's roll that special highlight reel. we will talk about taxes and tax rates in just a moment. there are rich people. you have to like them. i have a feeling this is a breakthrough. >> we found some areas of agreement between myself and the conservative. you and i are not simpatico. i do not get it, he was on the show yesterday. charles, did you or constraint